PHEV sales in Australia rise due to FBT exemption under LCT threshold, set to end in 2025.

Plug-in hybrid electric vehicle (PHEV) sales are increasing in Australia, bolstered by a current exemption from Fringe Benefits Tax (FBT) when purchased under the Luxury Car Tax (LCT) threshold of $91,387 via a novated lease. This exemption will end on April 1, 2025, when PHEVs will no longer qualify as zero- or low-emissions vehicles. Notable models include the Kia Sorento, Mitsubishi Outlander PHEV, and Cupra Formentor VZe, which offer affordability and practicality.

October 19, 2024
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